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Exela Technologies

Exela Technologies Inc is a business process automation (BPA) leader combining industry-specific and multi-industry enterprise software and solutions. The company's BPA suite of solutions is deployed in banking, healthcare, insurance, and other industries. The company's segment includes Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS), and Legal and Loss Prevention Services (LLPS). It generates maximum revenue from the ITPS segment.

EXELA TECHNOLOGIES INC by Exela Technologies, Inc.

Exela Technologies Inc

EXELA TECHS INC 6% SER B by Exela Technologies, Inc.

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has amassed a staggering <a href="https://www.benzinga.com/markets/equities/24/11/42143260/warren-buffett-claims-to-not-time-the-market-but-his-cash-horde-tells-a-different-story">$325 billion cash reserve,</a> its largest ever, and nearly double the previous year's balance. This coincides with a record high in Warren Buffett's favored valuation metric: the stock market&#8217;s value relative to the U.S. economy. While this may seem like Buffett is predicting an imminent market downturn, his strategy is more nuanced and insightful.
What Happened: Nir Kaissar, founder of Unison Advisors, said in an opinion <a href="https://www.bloomberg.com/opinion/articles/2024-11-21/buffett-s-325-billion-cash-hoard-is-an-early-warning-signal">piece</a> for Bloomberg that Buffett readily admits he cannot forecast short-term market movements or crashes. Instead, he focuses on long-term returns, adjusting Berkshire's asset allocation accordingly.
Kaissar explains this approach as allocating assets based on expected returns rather than speculating on market timing. This principle has <a href="https://www.benzinga.com/24/11/41867250/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reason-behind-berkshire-hathaways-massive-cash-pile">consistently shaped Buffett's decisions</a>.
Berkshire's cash allocation has fluctuated dramatically, from 1% in 1994 to 28% today. &#8220;The record shows Buffett consistently raising Berkshire's cash allocation as stock valuations rise during booms — and expected returns consequently decline — and drawing down cash as opportunities arise,&#8221; Kaissar said.
See Also: <a href="https://www.benzinga.com/24/11/42088394/economist-gordon-johnson-slams-federal-reserve-for-asset-owner-centric-policies-says-fed-needs-to-focus-on-the-real-economy-over-stock-markets" target="_blank" rel="noreferrer noopener">Gordon Johnson Slams Federal Reserve For Asset-Owner Centric Policies, Says Jerome Powell Needs To Focus On ‘Real Economy&#8217;: ‘…The Stock Market Will Be Fine&#8217;</a>
He added that during the 1990s internet bubble, Buffett increased cash holdings as valuations soared but deployed capital as opportunities emerged. Similarly, leading up to the 2008 financial crisis, Buffett boosted cash reserves, only to invest strategically during the downturn, including a well-timed Goldman Sachs stake.
Buffett's approach hinges on a fundamental principle: valuations and future returns are inversely related. When assets are overvalued, expected returns decline, justifying higher cash reserves.
Today, the market-to-GDP ratio is at unprecedented levels, signaling potentially lower future returns. With cash yields comparable to those during past booms, Berkshire's significant cash reserve reflects Buffett's strategy of preparing for opportunities in an uncertain market.
Why It Matters: The surge in Berkshire&#8217;s cash reserve has sparked speculation about Buffett&#8217;s motives. Some analysts believe it could be a sign of an impending market downturn, while others suggest it may be part of a larger strategy, such as an acquisition plan or<a href="https://www.benzinga.com/markets/equities/24/11/42137295/as-mstrs-michael-saylor-says-warren-buffett-is-destroying-berkshire-capital-analyst-suggests-overpricedhot-stock-market-could-be-the-reason-oracle-of-omaha-is-sitting-on-325b-cash"> a buyback plan</a> in case of a succession.
Jeff Muscatello, a research analyst at Berkshire investor Douglass Winthrop, suggested that the impending management transition could be a factor in Buffett's decision to cash out. "The nearing <a href="https://www.benzinga.com/markets/24/11/41869558/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reas">inevitable management transition makes</a> it an opportune time to clear the decks for the next generation," he said.
MicroStrategy Inc. co-founder Michael Saylor also weighed in. Saylor said <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084722/warren-buffett-destroy-not-investing-in-bitcoin-says-microstrategys-michael-saylor">Buffett was destroying billions </a>of dollars in capital by not utilizing the huge hordes of cash at their disposal to invest in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). "I'd&nbsp;want to bet you&nbsp;that if I had an&nbsp;hour alone with Buffett in&nbsp;a calm environment, I'd&nbsp;walk out and he would&nbsp;say this Bitcoin thing is a&nbsp;pretty good idea," he said.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Is Warren Buffett Preparing For A Market Downturn With Berkshire Hathaway's $325B Cash Pile? Analyst Says Internet Bubble And 2008 Crash May Have Lessons

Kevin O'Leary is warning about how expensive <a href="https://www.benzinga.com/startups/24/07/39792500/kevin-oleary-believes-america-is-the-biggest-business-in-america-and-wants-executives-in-cabinet-tha">running a business in America</a> is becoming. In a recent Fox Business segment, O'Leary discussed how complicated rules and taxes are making it harder for companies across industries.
He also expressed hope that leaders like Elon Musk and Vivek Ramaswamy could bring about change by <a href="https://www.benzinga.com/money/how-to-reduce-taxable-income-for-high-earners">simplifying taxes</a> and reducing<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency"> unnecessary regulations</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Elon and Vivek are able to simplify tax and deregulate the economy by just 30%, the cost savings would be huge. The cost I have to spend each year just to remain compliant increases about 20% per year. I've never seen cost escalation like I have in the past five years. <a href="https://t.co/0HcTRfpNeq">pic.twitter.com/0HcTRfpNeq</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1858624028568703280?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
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"If they just solved for simplifying tax and deregulated the economy, just say 30%, pulled some of that regulation out," O'Leary said. According to O'Leary, the costs associated with staying compliant – like paying auditors, consultants and lawyers – are going up by about 20% yearly. "The cost that I have to spend each year just to remain compliant goes up at about 20% a year between all the consultants, the auditors, the lawyers and the changing rules of regulation," he shared.
O'Leary explained that he operates across all 11 sectors of the economy and has never seen such an escalation in costs as he has in the last five years. He&#8217;s not alone either; many other business leaders share his concerns. He mentioned that if you spoke to the CEOs of the S&amp;P 500 companies, they would tell you these regulatory costs are among the most rapidly growing expenses they face.
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&#8220;There&#8217;s lots of room for efficiency, lots of room for action on that,&#8221; O&#8217;Leary said. By <a href="https://www.benzinga.com/personal-finance/24/10/41291074/dimon-calls-out-red-tape-says-its-deeply-frustrating-america-isnt-solving-its-problems">pulling back on the red tape</a>, businesses could save money and use it for other purposes, such as expanding their operations, hiring more staff or lowering consumer prices.
O&#8217;Leary hopes that by bringing in business-minded leadership – people like Elon Musk, who has already shown his ability to cut through inefficiencies at Twitter or Vivek Ramaswamy, known for his straightforward approach – the U.S. could reduce these burdens and give companies some much-needed breathing room.
However, not everyone is convinced that Musk and Ramaswamy are the right leaders for this challenge. Critics argue that while Musk&#8217;s methods at Twitter have been effective in certain areas, they have also been controversial and have led to disruptions. Some doubt whether his approach would translate well to government-level regulation involving a different scale and set of complexities.&nbsp;
Similarly, while appealing, <a href="https://www.benzinga.com/startups/24/11/42038767/im-one-of-you-how-anti-woke-warrior-vivek-ramaswamy-became-a-billionaire-at-only-38">Ramaswamy&#8217;s straightforward approach</a> may lack the nuance required to navigate the intricacies of federal regulations. There are concerns that oversimplification could lead to unintended consequences, potentially creating more issues than solutions.
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Costs Have Escalated Drastically, Warns Kevin O'Leary, Hopeful Elon And Vivek Can 'Simplify Tax And Deregulate The Economy'

Elon Musk sparked confusion online yet again – this time with his take on Argentina's new import tax cuts. Recently, Argentina&#8217;s President-elect Javier Milei announced a major policy change to reduce taxes on imports.&nbsp;
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As part of his economic reform plan, Milei wants to make imported goods more affordable. Starting in December, he will raise the tax-free limit on international purchases from $1,000 to $3,000. Personal imports will also get a tariff exemption of up to $400. This move is meant to open up the economy and make things easier for shoppers in Argentina.&nbsp;
Elon Musk seemed to think so. In response to a tweet discussing Milei&#8217;s idea, he expressed his support for the tax cut by simply saying, &#8220;Good move.&#8221;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good move <a href="https://t.co/lrIevpBU3l">https://t.co/lrIevpBU3l</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857698387371397241?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote>
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The tweet caught a lot of attention as many people quickly called Musk out for what they saw as mixed signals – supporting a policy in Argentina that seems opposite to the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">U.S. import tariffs promoted by Donald Trump</a>, whom Musk has also publicly supported.
For instance, one user tweeted, &#8220;You supported the presidential campaign of the guy advocating for the largest tariff hike in modern U.S. history, lmao.&#8221; Another wrote, &#8220;Import taxes = tariffs. You support cutting them elsewhere and raising them here? Shameful hypocrisy.&#8221; Alex Cole added to the discourse, writing, &#8220;So removing tariffs is a good move and Donald Trump adding tariffs is also a good move? Bizarro world.&#8221;
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<h2 class="wp-block-heading">Different Countries, Different Needs?</h2>
Not everyone saw it as straight-up hypocrisy. Some X users argued that Musk's take could be valid if viewed in the context of Argentina's economy compared to the U.S.&nbsp;
<a href="https://www.benzinga.com/news/24/01/36597688/argentinas-inflation-was-around-200-in-2023-and-it-could-get-worse-in-2024-new-leadership-says-it-wi">Argentina is dealing with hyperinflation</a> and a major recession, so reducing import taxes might be a much-needed lifeline to help people afford basic goods. Dan Victor, a CFA, commented, &#8220;It&#8217;s different for the world&#8217;s largest economy compared to one suffering from a deep recession and hyperinflation.&#8221;
Another user pointed out that different countries might use different tools for different reasons. &#8220;Start by studying comparative economic policy. Then, once you understand that two completely different countries/economies implementing different policies is normal, this should make a little more sense.&#8221;
While some felt Musk was inconsistent, others believed his opinion could make sense given the drastically different economic situations of Argentina and the United States. The U.S. has a massive, stable economy, whereas Argentina is struggling to stabilize itself amid economic turmoil.
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'Bizarro World' – People Are Really Confused By Elon Musk Praising Argentina's Javier Milei Slashing Import Taxes

Satellite images have reportedly revealed that Russia has supplied North Korea with over one million barrels of oil since March, violating United Nations sanctions that <a href="https://www.benzinga.com/news/24/10/41561980/zelensky-sounds-alarm-on-potential-north-korean-involvement-in-ukraine" target="_blank" rel="noreferrer noopener">restrict oil sales to North Korea</a>.
These transfers are part of a broader arrangement in which North Korea sends weapons, artillery shells, and even troops to aid Russia&#8217;s war in Ukraine, the BBC <a target="_blank" href="https://www.bbc.com/news/articles/cjr4pr0gyyzo" rel="noreferrer noopener">reports</a>.
The oil deliveries, tracked by the UK-based Open Source Centre, are seen as a direct quid pro quo for North Korea&#8217;s military support, with the oil serving to fuel Pyongyang&#8217;s own operations and provide stability amid ongoing sanctions.
According to satellite imagery analyzed by UK-based non-profit research group the Open Source Centre and shared exclusively with the BBC, North Korean oil tankers have made 43 trips to Russia&#8217;s Far East, with vessels arriving empty and leaving full.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale" rel="noreferrer noopener">Warren Buffett Is Set To Collect $776 Million In Coca-Cola Dividends – But Daughter Says His Wife Buys Him The Soda &#8216;On Sale&#8217;</a>
Despite UN sanctions capping the amount of oil North Korea can receive at 500,000 barrels per year, Russia&#8217;s illicit shipments have far exceeded this limit, with experts estimating more than a million barrels have been supplied since March.
The BBC added that these transfers not only breach UN sanctions but also involve ships that are themselves under sanction, some of which should have been impounded upon entering Russian waters, citing Go Myong-hyun, a senior research fellow at South Korea&#8217;s Institute for National Security Strategy.
The situation marks a new level of contempt for international regulations, as Russia has actively circumvented the UN panel responsible for monitoring such violations, disbanding it through its veto at the Security Council in March.
Experts worry this cooperation between two autocratic regimes may lead to even more dangerous collaborations, potentially involving military technology transfers that could further destabilize the region, the BBC adds.
While the oil deliveries provide crucial fuel for North Korea&#8217;s military, which relies on oil for its missile launchers and munitions factories, concerns are growing over the potential for more military technology exchanges, particularly in satellite and ballistic missile advancements. 
Both the US and South Korea are closely monitoring the evolving ties between Russia and North Korea, with the possibility of these exchanges further threatening global security.
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Satellite Images Reveal North Korea Reportedly Receiving Illicit Oil from Russia

Elon Musk on Saturday shared a cryptic tweet on X, hinting at a significant turning point in human history.
What Happened: Musk&nbsp;responded to a post on X by Bojan Tunguz, which referred to an unspecified event as &#8220;one of the major inflection&nbsp;points of human history.&#8221; Musk&#8217;s reply was enigmatic, stating, &#8220;I knew if I brought&nbsp;a sink they would have&nbsp;to let that sink in.&nbsp;How could they not?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I knew if I brought a sink they would have to let that sink in. How could they not? <a href="https://t.co/voEVBMC7Ht">https://t.co/voEVBMC7Ht</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860199022121943545?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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The Tesla and SpaceX CEO&#8217;s post on X has left his followers intrigued, as they attempt to decipher the meaning behind his cryptic words.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments">Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments</a>
Why It Matters: Musk is known for his cryptic tweets, which often lead to widespread speculation. His recent tweet, which suggests a significant turning point in human history, has sparked a flurry of theories among his followers.
While the exact meaning behind Musk&#8217;s tweet remains unclear, it underscores his reputation as a thought leader in the tech industry, known for pushing boundaries and challenging conventional thinking.
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Tech

"I Knew If I Bought a Sink": What Does Elon Musk's Cryptic Tweet Mean?

President-elect Donald Trump is preparing a sweeping plan to reshape the Department of Justice (DOJ) and direct the department to investigate claims that the 2020 election was rigged against him when he <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market">assumes office in January</a>.
What Happened: According to a report, Trump plans to dismiss Special Counsel Jack Smith and other DOJ employees who investigated allegations of voter fraud in the 2020 election, despite the lack of evidence supporting such claims.
The proposed changes come as Trump continues to challenge the legitimacy of President Joe Biden's victory. Trump's plans, aimed at targeting investigations into unfounded voter fraud claims, <a href="https://www.washingtonpost.com/national-security/2024/11/22/trump-jack-smith-prosecutors-firing-justice-department-investigation/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=wp_main">reports</a> The Washington Post.
Smith, who has been leading federal investigations into Trump's alleged attempts to overturn the 2020 election and his handling of classified documents, could see his tenure cut short under a second Trump administration. 
According to the report, Smith&nbsp;has already announced that&nbsp;he would resign from the department before Trump begins his second term, ending the election interference and classified documents cases against the president-elect.
Trump's legal troubles include multiple indictments, with some stemming from Smith's probes.
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"President Trump campaigned on firing rogue bureaucrats who have engaged in the illegal weaponization of our American justice system, and the American people can expect he will deliver on that promise," press secretary Karoline Leavitt said in a statement.
The former president's proposed DOJ overhaul also involves investigating claims of election fraud that have been repeatedly debunked by courts and bipartisan officials. 
Why It Matters: Legal experts warn that using the DOJ to pursue baseless allegations risks undermining the department's credibility and its independence. Critics argue such actions could set a dangerous precedent by politicizing federal investigations to serve partisan interests.
Trump has made challenging the 2020 election results a central theme of his campaign. His rhetoric continues to resonate with supporters, while drawing criticism from opponents and legal scholars.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Trump Plans DOJ Overhaul Including Firing of Jack Smith's Team

President-elect Donald Trump has selected Russell Vought, co-author of the conservative policy agenda Project 2025, as director of the <a target="_blank" href="https://www.benzinga.com/news/24/11/42024583/world-bank-worries-over-budget-cuts-after-24b-mishap-trump-win" rel="noreferrer noopener">Office of Management and Budget (OMB) in his second term.</a>
Vought previously served as OMB&#8217;s deputy director during Trump&#8217;s first term. But his influence extends beyond OMB. He wrote the chapter on the Executive Office of the President in Project 2025, a conservative policy framework developed by The Heritage Foundation, The Hill <a href="https://thehill.com/homenews/campaign/5005710-trump-picks-project-2025-author-russell-vought-to-lead-budget-office/" target="_blank" rel="noreferrer noopener">reports</a>.
&#8220;He did an excellent job serving in this role in my First Term &#8211; We cut four Regulations for every new Regulation, and it was a Great Success!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113529338208908362" target="_blank" rel="noreferrer noopener">wrote</a> in a post on Truth Social on Friday. &#8220;We will restore fiscal sanity to our Nation.&#8221;
Trump praised Vought&#8217;s experience in public policy, describing him as an aggressive cost-cutter and deregulator who would help advance the &#8220;America First&#8221; agenda across federal agencies.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/42152586/judge-rejects-sec-bid-to-penalize-musk-over-missed-deposition" rel="noreferrer noopener">Judge Rejects SEC Bid to Penalize Musk Over Missed Deposition</a>
The president-elect emphasized Vought&#8217;s knowledge of dismantling the so-called &#8220;Deep State&#8221; and restoring self-governance to the American people, alongside a promise to restore fiscal discipline.
In response to the selection, Vought <a href="https://x.com/russvought/status/1860121532758204758?prefetchTimestamp=1732383856583" target="_blank" rel="noreferrer noopener">posted</a> on X, &#8220;There is unfinished business on behalf of the American people, and it&#8217;s an honor of a lifetime to get the call again.&#8221;
Project 2025, which includes input from scholars and policy experts, proposes sweeping changes such as reshaping the executive branch and reducing the size and funding of certain government agencies.
While Trump previously distanced himself from Project 2025 during his campaign, citing its controversial elements, his decision to appoint Vought as OMB director signals a strong alignment with its conservative priorities. The project has faced significant backlash from Democrats, who argue it threatens American democratic institutions.
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Trump Picks Project 2025 Co-Author Russell Vought for OMB

Gov. Gavin Newsom (D-Calif.) has unveiled the framework for the California Jobs First Economic Blueprint, a comprehensive strategy aimed at fostering job creation and <a href="https://www.benzinga.com/markets/cannabis/24/10/41547103/new-rules-old-challenges-californias-cannabis-industry-grapples-with-regulations" target="_blank" rel="noreferrer noopener">regional economic growth across the state</a>.
The blueprint focuses on building a sustainable economy by directing investments into ten key industry sectors, with a focus on innovation, sustainable growth, and access to good-paying jobs, per a <a href="https://www.gov.ca.gov/2024/11/21/regional-economic-development-plans/" target="_blank" rel="noreferrer noopener">release</a> on the Governor&#8217;s official website.
The full plan will be released early next year, alongside $120 million in funding to support job-creating projects over the next three years.
Speaking in Fresno alongside community leaders and business owners from the Central San Joaquin region, Newsom said that this bottom-up approach, developed through extensive community input, would help shape the future of California&#8217;s economy.
Read Also: <a target="_blank" href="https://www.benzinga.com/news/24/11/42152721/tesla-cybertruck-part-of-donald-trumps-motorcade-will-vehicle-land-government-deals" rel="noreferrer noopener">Tesla Cybertruck Part Of Donald Trump&#8217;s Motorcade, Will Vehicle Land Government Deals?</a>
&#8220;From agriculture to clean energy to manufacturing and everything in between, these blueprints will foster growth and expansion throughout every community of California,&#8221; Newsom said.
More 10,000 local residents and experts participated in identifying priority sectors that will drive regional economies.
The framework categorizes California&#8217;s economy into four key segments:
<ul>
<li>Strengthen (established sectors with leveling growth)</li>
<li>Accelerate (growing sectors poised for expansion with strategic investments)</li>
<li>Bet (emerging sectors with high investment potential), and</li>
<li>Anchor (foundational sectors that support broader industry and community activities). </li>
</ul>
According to Newsom, this approach will ensure that both current and future industries provide good, well-paying jobs for Californians, particularly in underserved communities.
As part of the California Jobs First initiative, the blueprint also emphasizes workforce development. Through this effort, California is focusing on ensuring its workforce is well-prepared to meet the specific needs of priority industries.
The state has also invested heavily in training programs, with over $4 billion in state funding directed towards workforce development, apprenticeship, and education initiatives.
Newsom&#8217;s plan builds on previous efforts, such as the Community Economic Resilience Fund (CERF) and the Regional Investment Initiative, which collectively aim to create high-quality, accessible jobs across all 13 of California&#8217;s regions.
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/11/42152586/judge-rejects-sec-bid-to-penalize-musk-over-missed-deposition" target="_blank" rel="noreferrer noopener">Judge Rejects SEC Bid to Penalize Musk Over Missed Deposition</a></li>
</ul>
Image: Shutterstock

Newsom Unveils Economic Blueprint To Ignite Job Growth, Sees 'Expansion Throughout Every Community of California'

Billionaire Elon Musk on Saturday shared a post on X  which said &#8220;The people want the Diddy &amp; Epstein Files.&#8221; Later he shared his perspective by saying &#8220;Yes&#8221; on the post.
Last month, President-elect Donald Trump stated that he would be open to releasing additional files concerning convicted sex trafficker Jeffrey Epstein if he were to return to the White House.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes. <a href="https://t.co/8PEeBHCNod">https://t.co/8PEeBHCNod</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860202873218564568?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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This is not the first time Musk has raised his concern around this issue. Last year Musk raised the question on Twitter, asking why the&nbsp;Department of Justice&nbsp;had not leaked&nbsp;Epstein and Ghislaine Maxwell&#8216;s list of clients and why the media didn&#8217;t seem to care to look into the clients&#8217; identities.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Only thing more remarkable than DOJ not leaking the list is that no one in the media cares. Doesn't that seem odd? <a href="https://t.co/JEK4TErABB">pic.twitter.com/JEK4TErABB</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1533161114586042369?ref_src=twsrc%5Etfw">June 4, 2022</a></blockquote>
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</figure>
Earlier this year, Mark Epstein, the younger brother of disgraced financier Epstein, has alleged that his brother possessed information that could have influenced elections involving Trump and the Clintons.
Also Read: <a href="https://www.benzinga.com/news/24/10/41220104/elon-musk-says-billionaires-supporting-kamala-harris-are-scared-epstein-list-will-be-made-public-if">Elon Musk Says Billionaires Supporting Kamala Harris Are Scared Epstein List Will Be Made Public If Trump Returns To Power</a>
A Manhattan court has released a list of people connected to Jeffrey Epstein, which has raised eyebrows and intensified speculation. Some of the 187 individuals previously only identified as "J Doe" in court papers have been identified, but other names reportedly remained sealed, including those of underage victims.
Musk's remarks have sparked mixed reactions, with some praising his call for justice and others questioning his involvement in such discussions. Known for engaging with hot-button topics, Musk often uses his platform to address societal and legal issues.
In December 2021, Maxwell was found&nbsp;<a href="https://www.dailywire.com/news/ghislaine-maxwell-jeffrey-epsteins-former-girlfriend-found-guilty-in-sex-abuse-trial" target="_blank" rel="noreferrer noopener">guilty</a><a href="https://www.benzinga.com/news/21/12/24823587/epstein-associate-ghislaine-maxwell-found-guilty-of-5-charges-in-sex-trafficking-case" target="_blank" rel="noreferrer noopener">&nbsp;of helping to recruit teenage girls</a>&nbsp;for&nbsp;Epstein, who&nbsp;died in August 2019.
Maxwell, known as&nbsp;&#8220;Inmate 02879-509&#8221; while incarcerated,&nbsp;is currently serving her sentence at the Federal Correctional Institution&nbsp;in Tallahassee, Florida.&nbsp;
Read Next
<a href="https://www.benzinga.com/general/entertainment/22/05/27458121/heres-elon-musks-piece-of-advice-for-ex-girlfriend-amber-heard" target="_blank" rel="noreferrer noopener">Elon Musk Gives This Piece Of Advice To Ex-Girlfriend Amber Heard And Johnny Depp</a>

Elon Musk Agrees That People Want To See Jeffrey Epstein Files

Rep. Lori Chavez-DeRemer (R-Ore.), a moderate who lost her House seat this month, has been <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">selected by President-elect Donald Trump</a> to lead the Labor Department in his new term.
Trump praised Chavez-DeRemer, who first won her seat with just 51% of the vote in 2022 and lost it by a two-point margin this year, for her work with both business and labor groups to support American workers, The New York Times <a href="https://www.nytimes.com/2024/11/22/business/economy/labor-secretary-lori-chavez-deremer-trump.html" target="_blank" rel="noreferrer noopener">reports</a>.
Following Trump&#8217;s announcement, National Education Association President Becky Pringle acknowledged Chavez-DeRemer&#8217;s legislative record in the House, per a <a href="https://apnews.com/article/trump-cabinet-labor-secretary-lori-chavezderemer-feaa4672efac644aa60722d3a3215df1" target="_blank" rel="noreferrer noopener">report</a> from AP News.
However, Pringle indicated that educators and working families would closely monitor the confirmation process and hoped Chavez-DeRemer would commit to supporting workers and students.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42151529/chamath-palihapitiyas-suggestion-for-donald-trump-make-paying-taxes-simple-and-enforcement" rel="noreferrer noopener">Chamath Palihapitiya&#8217;s Suggestion For Donald Trump: &#8216;Make Paying Taxes Simple And Enforcement…&#8217;</a>
Though not a major figure in labor politics, Chavez-DeRemer garnered significant union support during her campaign. She shared endorsements with her Democratic opponent, Janelle Bynum, earning the backing of groups like the Teamsters, firefighters, and ironworkers.
House Speaker Mike Johnson, who spoke at one of Chavez-DeRemer&#8217;s rallies, remarked that she received more union endorsements than any Republican he had ever seen, The New York Times added.
While labor leaders criticized Trump&#8217;s labor policies during his first term, Chavez-DeRemer&#8217;s selection was praised by some in the labor movement. Sean O&#8217;Brien, president of the Teamsters, who had been in contact with Trump throughout the campaign, called her appointment a step toward creating more union jobs. Chavez-DeRemer, whose father was a Teamster, has emphasized her work on the fentanyl crisis and law enforcement during her campaign.
As labor secretary, Chavez-DeRemer will face the challenge of possibly reversing Biden-era policies, which focused on expanding worker protections, including new overtime eligibility and protections for gig workers.
Under Trump, it&#8217;s expected that many of these measures could be rolled back, alongside stricter enforcement of child labor laws and worker classification regulations, per The New York Times.
The Labor Department&#8217;s approach to immigrant workers and workplace safety could also shift, reflecting the broader policy changes anticipated under a second Trump term.
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<li><a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump's DOGE Initiative To Have ‘Marginal Impact' Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

Trump Taps Teamsters-Backed Chavez-DeRemer For Labor

The Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck may be able to add President-elect Donald Trump to the list of celebrities who are fans of the unique electric vehicle after a recent <a href="https://www.benzinga.com/general/space/24/11/42058175/trump-may-attend-elon-musks-starship-test-flight-in-texas-on-tuesday-report">visit to SpaceX</a>.
What Happened: The Cybertruck has attracted purchases from Tesla fans, <a href="https://www.benzinga.com/general/entertainment/24/03/37852639/tesla-cybertruck-the-new-celebrity-fashion-accessory-steve-aoki-big-sean-latest-to-own-ev">celebrities</a> and even been bought by <a href="https://www.benzinga.com/news/24/10/41246431/after-shaq-jay-z-beyonce-and-others-tesla-cybertruck-joins-joins-irvine-police-departments-fleet-wil">some police departments</a>.
President-elect Trump recently traveled to Starbase in Texas to watch the sixth flight test of SpaceX's Starship, where he also interacted with Tesla CEO and friend Elon Musk.
While pictures and videos of the visit have gone viral online, one of the items investors might be paying attention to is a video of a Cybertruck being in Trump's motorcade.
"Cybertruck in the motorcade on Starbase," Trump's Deputy Director of Communications Margo Martin tweeted with a video.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cybertruck in the motorcade on Starbase &#x1f680;&#x1f1fa;&#x1f1f8; <a href="https://t.co/8u6ZtZeJW1">pic.twitter.com/8u6ZtZeJW1</a>
&mdash; Margo Martin (@margomartin) <a href="https://twitter.com/margomartin/status/1859021962510823902?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
While it's unknown who was in the Cybertruck, the Tesla vehicle stood out as it was in the convoy of police and armored vehicles
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/24/11/42144099/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-44">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Given the importance to protect Trump during travel given past assassination attempts on his life, the use of a Cybertruck in the convoy could signal the trust in the stainless steel vehicle said to be bulletproof. &nbsp;
Investors will be watching to see if Cybertrucks could make their way into the president's convoy going forward or if this was only due to the close proximity to the SpaceX location.
Trump<a href="https://www.benzinga.com/news/24/08/40179186/youtuber-gifts-trump-a-tesla-cybertruck-with-custom-wrap-of-his-pennsylvania-rally-shooting-incident"> was previously gifted </a>a Cybertruck wrapped with an image of himself and featuring the words "Make America Great Again" on the hood by YouTuber Adin Ross.
"That's an Elon. That is beautiful," Trump said when he saw the vehicle.
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/09/40736498/elon-musks-blade-runner-inspired-cybertruck-now-serves-pizza-on-the-side">Elon Musk&#8217;s &#8216;Blade Runner&#8217;-Inspired Cybertruck Now Serves Pizza On The Side</a></li>
</ul>

TSLA

Tesla Cybertruck Part Of Donald Trump's Motorcade, Will Vehicle Land Government Deals?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experienced a 5% surge following a tweet by Elon Musk on X. This has sparked fresh speculations about the imminent payments service on Musk&#8217;s social app.
What Happened: Musk&#8217;s Friday post, which featured a screenshot of podcaster Joe Rogan&#8217;s X profile, triggered the increase in Dogecoin&#8217;s price. 
The post displayed a unique dollar icon, different from the app&#8217;s tipping service, leading to speculations that it could be related to the anticipated X Payments service.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Have to say that <a href="https://twitter.com/joerogan?ref_src=twsrc%5Etfw">@joerogan</a>'s profile description is awesome &#x1f602; <a href="https://t.co/6Z8hUAQIBj">pic.twitter.com/6Z8hUAQIBj</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1859930496278368525?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk responded to the speculation with a simple &#8220;true&#8221;, further fueling the rumors. Dogecoin&#8217;s price has historically been influenced by payment-related news from any of Musk&#8217;s ventures, including X, formerly known as Twitter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">True
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860003103518732614?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
There are speculations that once the service is live, it might support transactions with digital assets like DOGE, given Musk&#8217;s known fondness for the token. 
Musk&#8217;s electric car company, already accepts DOGE payments for certain merchandise purchases in its online store.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a>
Over the past 24 hours, DOGE has advanced 6.16% and at the time of writing it was trading at $0.4332, outperforming the stagnant Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices. The token has risen 190% over the past month, trading at its highest level since May 2021.
Why It Matters: The surge in Dogecoin&#8217;s price following Musk&#8217;s tweet is significant as it highlights the influence Musk has over the cryptocurrency market. 
His tweet sparked speculations about the forthcoming X Payments service, which could potentially support transactions with digital assets like DOGE. 
This is particularly noteworthy given Musk&#8217;s known fondness for the token and the fact that his electric car company, Tesla Inc., already accepts DOGE payments for certain merchandise purchases. 
The rise in DOGE&#8217;s price also outperformed the stagnant bitcoin prices, indicating a growing interest in alternative cryptocurrencies.
Read Next
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

DOGE

Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments

The <a href="https://www.benzinga.com/topic/dea">Drug Enforcement Administration </a>(DEA) has been barred from conducting random searches of travelers&#8217; belongings at airports and transit hubs following a Justice Department investigation that exposed corrupt practices. The investigation, led by Inspector General Michael Horowitz, uncovered failures to properly document searches, potential racial profiling and questionable partnerships with airline employees. 
One airline worker reportedly received tens of thousands of dollars over several years as a kickback for flagging passengers based on travel patterns, such as purchasing last-minute tickets. 
"The DOJ Office of the Inspector General (OIG) found that the DEA has repeatedly failed to comply with its own policies, creating significant operational and legal risks," according to the <a href="https://oig.justice.gov/news/doj-oig-releases-management-alert-identifying-concerns-deas-transportation-interdiction">report</a>.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/07/33156524/dea-turns-50-unveiling-the-ineffectiveness-of-the-ongoing-war-on-drugs-now-what">$1 Trillion And 50 Years Later, Is The DEA&#8217;s War On Drugs A Failure?</a>
The decision to suspend the searches was issued on November 12 by the deputy attorney general after reviewing the draft report. The Justice Department's memo restricts DEA agents from engaging in consensual encounters at transit locations unless tied to active investigations or approved under special circumstances.
<h2 class="wp-block-heading">Systemic Corruption</h2>
The report follows a widely circulated video released by the <a href="https://ij.org/press-release/department-of-justice-suspends-controversial-airport-interdictions-after-viral-footage-showing-dea-agents-threatening-abusing-innocent-traveler/">Institute for Justice</a> (IJ), a nonprofit civil rights organization. One case cited in the memo involved a traveler approached by a DEA Task Force Officer at an airport. The video shows a traveler, identified as David C., refusing to consent to a search at an airport. Despite his objections, agents took his backpack, claimed a drug-detection dog alerted them and conducted the search, which yielded no illegal items. The delay, which caused David to miss his flight, resulted in widespread public criticism.
Further investigation revealed systemic issues. The DEA rarely documents its searches unless they result in seizures or arrests, making it impossible to determine how many travelers have been impacted. In one case, musician Brian Moore had $8,500 seized at an airport, money intended for a music video project. He was never charged with a crime but spent a year and $15,000 in legal fees to recover his funds. Moore said the experience ruined his music career.
A 2016 <a href="https://www.usatoday.com/story/news/2016/08/10/dea-travel-record-airport-seizures/88474282/">USA Today investigation</a> found that DEA agents seized over $209 million from more than 5,200 travelers at 15 major airports over a decade, with most funds shared with local police. Critics argue these practices incentivize unconstitutional searches for profit.
The Institute for Justice has since sued the DEA and TSA, advocating for legislation to eliminate these financial incentives. The DEA has yet to respond to the findings.
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</ul>
Photo: Courtesy of DEA

Cannabis

Government

DEA Banned From Random Airport Searches After Scathing Justice Department Report Uncovers Corruption

A federal judge dismissed the U.S. Securities and Exchange Commission's (SEC) request to penalize Elon Musk for skipping a court-ordered deposition in its investigation into his $44 billion acquisition of Twitter, now known as X.
What Happened: On Friday, Judge Jacqueline Scott Corley of the U.S. District Court in San Francisco determined that sanctions were unwarranted after Musk complied by testifying on Oct. 3 and agreed to reimburse the SEC's travel costs of $2,923, reports Reuters.
The SEC sought sanctions for Musk's failure to attend a Sept. 10 deposition as ordered, contending that merely covering travel costs would not deter individuals from ignoring court directives, particularly someone of Musk's financial stature. According to Forbes, Musk's net worth stands at $321.7 billion.
"Because the present circumstances forestall any occasion for meaningful relief that the court could grant, the SEC's request is moot," Corley wrote in the verdict.
Musk defended his actions, stating he had fulfilled the court's requirements by testifying in October. On Sept. 10, he was in Cape Canaveral, Florida, overseeing SpaceX's Polaris Dawn mission.
Also Read: <a href="https://www.benzinga.com/news/24/09/40866970/new-book-reveals-elon-musks-twitter-buy-fumble-and-mix-up-over-grimes-baby-name">New Book Reveals Elon Musk&#8217;s Twitter Buy Fumble And Mix-Up Over Grimes&#8217; Baby Name</a>
The SEC is probing whether Musk violated securities regulations by delaying disclosure of his Twitter stock purchases in early 2022. 
After the decision, Musk expressed his triumph on X . He responded to a post from a user who applauded his success against the SEC. Musk responded to the user saying, "SEC. The middle word is definitely ‘Elon's,' but I can never remember what the other two words stand for."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SEC. The middle word is definitely "Elon's", but I can never remember what the other two words stand for &#x1f914;. <a href="https://t.co/ZZiPyXecZk">https://t.co/ZZiPyXecZk</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860210546345419261?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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The regulator claims Musk waited at least 10 days longer than required, allowing him to acquire shares at lower prices before revealing his 9.2% stake and later announcing plans to buy the platform outright.
In July, Musk admitted misunderstanding SEC disclosure rules, calling his actions a "mistake."
What It Matters: This is not Musk's first legal clash with the SEC. In 2018, the agency sued him over Twitter posts about taking Tesla Inc. private. Musk settled by paying a $20 million fine, stepping down as Tesla's chairman, and agreeing to have company lawyers vet certain tweets in advance.
The case, SEC v. Musk, is being heard in the U.S. District Court for the Northern District of California.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Judge Rejects SEC Bid to Penalize Musk Over Missed Deposition

The third and final monthly contest in Benzinga's paper trading competition powered by TradeZero kicked off on Nov. 15, giving contestants a chance to take home over $15,000 in cash and prizes as part of the more than $30,000 in cash and prizes offered during <a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">the three-month run</a>.
The current leader of the third contest has posted an impressive gain, but as past contests have shown, it's still anyone's game.
The Contests:&nbsp;Powered by&nbsp;TradeZero, the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">World Championship of Trading</a>&nbsp;is the ultimate trading competition for investors to prove their keen eye during a three-month time period.
Contestants start each contest with a paper balance of $100,000. Each investor will have around one month to generate the highest profits from a starting balance of $100,000 in a simulated trading account.
Contestants in the World Championship of Trading will have access to Benzinga's Live Squawk product.
Investors will also gain exposure to TradeZero's newly patented short-selling tools.
Here's the leaderboard for the second contest through Nov. 22:
1st: James C.: $2,194,368.83
2nd: Mayank B.: $594,080.03
3rd: Willis R.: $357,886.00
All of the top 10 traders on the leaderboard have a balance of at least $226,000, gaining over 126% during the contest.
The leaderboard features some familiar names from past monthly contests. People who have followed the contests also know that the leaderboard often changes from the first week to the last week, meaning it's not too late to sign up and compete before the Dec. 8 deadline and the contest end date of Dec. 14.
Past Leaders: Benzinga<a href="https://www.benzinga.com/politics/24/11/41957889/benzinga-world-championship-of-tradings-top-trader-up-over-7000-thanks-to-2024-election-tesla-options"> recently talked to</a> first-place leader Sebastian N from the second monthly contest to find out more about how he generated the huge gains in a short time.
&#8220;I was definitely waiting for the election,&#8221; Sebastian told Benzinga. &#8220;To win this contest you gotta go big.&#8221;
Knowing that Tesla Inc CEO Elon Musk had endorsed Donald Trump and the stock could gain from a Trump win, Sebastian said he tracked the electric vehicle stock.
The trader said the stock was already breaking out before the election and seemed like it was going to continue moving higher. Sebastain bought Tesla calls and made it the biggest trade he had made during the contest.
&#8220;If Trump wins, we&#8217;re gonna do well,&#8221; Sebastian said, recalling his trades.
The trader said he sold the Tesla calls shortly after Trump won the election, netting a large profit in the paper trading contest, but admits he could have made an even larger gain if he held onto them for longer.
Sebastian&#8217;s advice for anyone entering the third and final contest is to remember that the leaderboard is constantly changing and you can still win the contest.
&#8220;No matter where you are on the leaderboard, you can always improve on your trading.&#8221;
Andrea S., the winner of the first contest, went from $100,000 to more than $1 million in the paper trading account in&nbsp;<a href="https://www.benzinga.com/exclusives/24/10/41240862/benzinga-world-championship-of-trading-powered-by-tradezero-1-contestant-up-988-in-3-weeks-join-now" target="_blank" rel="noreferrer noopener">less than a month.</a>
Benzinga previously&nbsp;<a href="https://www.youtube.com/live/DjRmtokM2YQ?si=V0zxoFo4dHh0jPGT&amp;start=3615" target="_blank" rel="noreferrer noopener">interviewed&nbsp;</a>Andrea S., who was in the top 10 for most of the contest and was in first place several weeks.
Contest Rules:&nbsp;The contest is open to residents of the United States and Canada who are 21 years of age or older.
Traders will be able to buy simulated equities and options from U.S. markets during the contest periods starting with a balance of $100,000. No fractional shares will be allowed. Traders have to hold a minimum of one stock or option throughout the contest. A minimum of five days of one trade or more must be completed throughout each contest.
Interested investors have been able to&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">sign up to join</a>&nbsp;the contest since Friday, July 26. Signing up for the first contest will automatically register an entry in the second and third contests. Traders can sign up for the contests after the start dates as long as it is before a cutoff deadline.
The dates for the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">contests</a>&nbsp;are listed below:
<ul>
<li>Contest 1: Sept. 15 through Oct. 14</li>
<li>Contest 2: Oct. 15 through Nov. 14</li>
<li>Contest 3: Nov. 15 through Dec. 14</li>
</ul>
The last days to register for the remaining contests are at 9 a.m. ET on Nov. 7 and Dec. 8.
Read Also:&nbsp;<a href="https://www.benzinga.com/news/events/24/11/42078635/exclusive-wall-street-meets-main-street-fintech-experts-weigh-in-on-retails-rise" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Wall Street Meets Main Street — Fintech Experts Weigh In On Retail&#8217;s Rise</a>
Contest Prizes: Participants have the chance to win as much as $30,000 in cash and prizes during the contests. Travel and expenses will not be paid for the NYSE tour prizes.
Here are the prizes for the World Championship of Trading.
Contest 1:
<ul>
<li>First Place: $5,000 cash, lifetime of&nbsp;<a href="https://pro.benzinga.com/feature/newsfeed/?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">Benzinga Pro Essential,</a>&nbsp;tour of the NYSE and lunch for two at the NYSE.</li>
<li>Second Place: $1,000 cash, one year of Benzinga Pro Essential.</li>
<li>Third Place: $500 cash, one year of Benzinga Pro Essential.</li>
</ul>
Contest 2:
<ul>
<li>First Place: $10,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.</li>
<li>Second Place: $2,000 cash, one year of Benzinga Pro Essential.</li>
<li>Third Place: $1,000 cash, one year of Benzinga Pro Essential.</li>
</ul>
Contest 3:
<ul>
<li>First Place: $15,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.</li>
</ul>
Find out more at the&nbsp;<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=467&amp;aff_id=1" target="_blank" rel="noreferrer noopener">World Championship of Trading site</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/11/41718416/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-october-2024-where-do-tesla-nvidia-apple-d" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In October 2024 — Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a></li>
</ul>
The World Championship of Trading (the "Contest") involves the assembling and managing of a fantasy stock portfolio and not actual trading results. Contest information and results (collectively, the &#8220;Content&#8221;) have been made available for information and entertainment purposes only and should not be considered trading or investment advice or a recommendation as to any security. All trading involves risks. Neither Benzinga nor TradeZero make any representations and warranties with respect to the accuracy of the Content, nor do they accept any liability which may arise directly or indirectly from use of the Content. See the&nbsp;<a href="https://tradezeroedge.com/world-championship-of-trading/contest-instructions" target="_blank" rel="noreferrer noopener">Contest's official rules</a>&nbsp;for all terms and conditions. TradeZero provides self-directed brokerage accounts to customers through its operating affiliates: TradeZero America, Inc., a United States broker dealer, registered with the Securities and Exchange Commission (SEC) and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC); TradeZero, Inc., a Bahamian broker dealer, registered with the Securities Commission of the Bahamas; and TradeZero Canada Securities ULC, a Canadian broker dealer, member firm of the Canadian Investment Regulatory Organization (CIRO) and member of the Canadian Investor Protection Fund (CIPF). If you have any specific questions about TradeZero&#8217;s brokerage services, please reach out to the TradeZero broker dealer in your jurisdiction.

Exclusives

Benzinga World Championship Of Trading: Third And Final Contest Top Trader Up Over 2,000%, It's Not Too Late To Join, Compete For $15,000

Large holders of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have been making significant moves, with Dogecoin whales recently buying up 550 million DOGE tokens, valued at $214.5 million, in one day.
What Happened: The transactions, recorded on blockchain monitoring services, highlight the growing activity among Dogecoin's biggest investors. 
Blockchain experts note that such whale movements often signal potential market shifts, as these transactions can precede either price rallies or sell-offs. 
The transfers occurred amid a period of relative stability for Dogecoin, trading near $0.056 at the time of the transactions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> whales have bought more than 550 million <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> over the past week, worth around $214.5 million! <a href="https://t.co/0eHqQGL3LO">pic.twitter.com/0eHqQGL3LO</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859560640869806344?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a></figcaption></figure>
Why It Matters: Historically, Dogecoin's price has been highly susceptible to whale activity, prompting heightened attention from the crypto community.
Dogecoin, created in 2013 as a joke, has gained significant traction thanks to endorsements from figures like Elon Musk. Despite its origins, the cryptocurrency now ranks among the top digital assets by market capitalization.
The meme coin remains a popular choice for retail investors, although its price volatility has led to mixed opinions among analysts. This latest whale activity underscores the ongoing interest in Dogecoin among major holders, hinting at potential shifts in market sentiment.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871566/massive-dogecoin-moves-worth-50-million-each-spotted-on-robinhood" target="_blank" rel="noreferrer noopener">Massive Dogecoin Moves Worth $50 Million Each Spotted On Robinhood</a>

Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Dow Jones Industrial Average gained around 2% this week, with the S&amp;P 500 and Nasdaq each rising approximately 1.7%. Despite NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surpassing analysts&#8217; expectations for Q3 earnings and revenue, its stock traded flat, leaving the market&#8217;s rebound to unfold independently of its AI momentum. 
Meanwhile, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) faced a steep decline after the DOJ pushed for Chrome&#8217;s divestiture, erasing over $120 billion in market cap on Thursday. 
On the economic side, November saw strong U.S. private sector growth, with S&amp;P Global&#8217;s PMI showing the services sector expanding at its fastest rate since March 2022, while inflation pressures eased, <a href="https://www.benzinga.com/news/global/24/11/42148498/wall-street-rebounds-without-its-ai-darlings-boost-king-dollar-maintains-dominance-while-bitcoin-defies-gravity-this-week-in-the-markets">aiding the Fed&#8217;s outlook.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/24/11/42072727/exclusive-bitcoin-advocate-anthony-pompliano-says-coinbase-is-similar-to-apple-has-something-that-cant-be-bought">EXCLUSIVE: Bitcoin Advocate Anthony Pompliano Says Coinbase Is Similar To Apple, &#8216;Has Something That Can&#8217;t Be Bought&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, features Anthony Pompliano comparing Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), emphasizing its trust and brand power as a leading crypto platform attracting new investors during a pro-crypto administration.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bull-runs-doge-shiba-inu">Dogecoin Millionaire Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run&#8217;s DOGE, Shiba Inu</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, details Glauber Contessoto&#8216;s diversified $50 million investment strategy for 2025. The strategy predicts that Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Brett (CRYPTO: BRT) will dominate the next bull market, following the success patterns of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42102652/michael-saylors-microstrategy-takes-wall-street-by-storm-becomes-second-most-traded-stock-after-nvidia">Michael Saylor&#8217;s MicroStrategy Takes Wall Street By Storm, Becomes Second-Most Traded Stock After Nvidia</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) surpassing trading volumes of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc., finishing second to NVIDIA Corp. after a surge in Bitcoin-related (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market interest.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/24/11/42082542/supermicro-computer-shares-soar-32-as-it-avoids-nasdaq-delisting-but-analysts-are-not-convinced-heres-whats-coming-next-for-smci">Super Micro Computer Shares Soar 32% As It Avoids Getting Booted Off Nasdaq, But Analysts Are Not Convinced: Here&#8217;s What&#8217;s Coming Next For SMCI</a>
<a href="https://www.benzinga.com/general/gaming/24/11/42047265/gamestop-adds-nat-turner-to-board-does-the-move-show-bigger-bet-on-trading-cards-grading">GameStop Adds Nat Turner To Board: Does The Move Show Bigger Bet On Trading Cards, Grading?</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096407/microsoft-one-of-the-most-compelling-investment-opportunities-says-goldman-sachs">Microsoft &#8216;One Of The Most Compelling Investment Opportunities,&#8217; Says Goldman Sachs</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/large-cap/24/11/42094649/nvidia-stock-historically-drops-in-december-after-q3-earnings">Nvidia Stock Historically Drops In December After Q3 Earnings</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights that NVIDIA Corp. has historically struggled in December, with an average 1.84% decline and only 40% of Decembers closing positive since 2014, despite strong Q3 earnings. 
&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42094958/netflix-faces-class-action-lawsuit-over-streaming-crashes-during-jake-paul-mike-tyson-fight">Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) facing legal action for technical issues during the Jake Paul vs. Mike Tyson boxing match, which attracted over 108 million viewers, making it the most-streamed sporting event ever but resulting in service disruptions that sparked subscriber lawsuits.
&#8220;<a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">Muddy Waters&#8217; Carson Block Bets Against E.L.F. Beauty: Short Seller Says Retailer&#8217;s Financials Show &#8216;Major Red Flag&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, details Carson Block&#8216;s short position against e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), alleging inflated revenues of $135-$190 million over three quarters, citing discrepancies between reported growth and U.S. Customs import data.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/24/11/42097545/feds-bowman-warns-on-inflation-risks-signals-neutral-rate-may-be-closer">Fed&#8217;s Bowman Warns On Inflation, Says Neutral Interest Rates May Be Closer &#8216;Than We Currently Think&#8217;</a>
<a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

Long Ideas

Short Sellers

Short Ideas

Trading Ideas

$PEPE

$SHIB

COIN

GOOG

GOOGL

NFLX

NVDA

Benzinga Bulls And Bears: Coinbase, MicroStrategy, Nvidia, e.l.f. Beauty - And Dogecoin Millionaire Predicts 2025 Meme Kings

A recent <a href="https://www.youtube.com/watch?app=desktop&amp;v=d5MfEgRmnvQ">call</a> on The Ramsey Show featured a woman who <a href="https://www.benzinga.com/personal-finance/24/11/42044634/653125">opened up to Dave Ramsey</a>, admitting that despite filing for bankruptcy in 2019, she's back in debt again – to the tune of $118,000, excluding the mortgage – and her husband is completely unaware of the mess they're in.
Don't Miss:
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>
<h2 class="wp-block-heading">The Cost of Keeping up Appearances</h2>
&#8220;We are the poster child of <a href="https://www.benzinga.com/personal-finance/24/08/40431868/dave-ramsey-warns-the-one-money-error-youre-making-that-could-derail-your-financial-future">trying to impress people</a>,&#8221; the caller confessed. After buying a new house, she felt pressured to fill it with &#8220;nice things,&#8221; but this urge spiraled into financial chaos, leading her to open a staggering 18 credit cards to fund the lifestyle she thought they needed to maintain.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jo and her husband filed bankruptcy five years ago. Now Jo has opened up 18 credit cards and is back in $118,000 of debt, and her husband is not involved in their finances. She called in to The Ramsey Show for advice. <a href="https://t.co/pZHyYIhkXN">pic.twitter.com/pZHyYIhkXN</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1858551622634226154?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
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Her husband, who earns $35,000 a year, has no idea about their <a href="https://www.benzinga.com/personal-finance/24/08/40512938/dave-ramseys-blunt-advice-your-finances-are-80-behavior-avoid-this-one-costly-mistake">financial issues</a> because, as she explained, &#8220;He doesn&#8217;t even have access [to our finances].&#8221; She takes home $125,000 annually, plus another $15,000 from a side hustle, yet her spending habits have left them drowning in debt – all because of a desire to project an image of success.
The caller revealed that the $118,000 in debt was spread across various sources. She owes $1,300 to the IRS and $9,500 is tied up in "pay in 4" payment plans like PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and <a href="https://www.benzinga.com/news/24/02/37357053/openai-backed-swedish-bnpl-company-klarnas-ai-bot-cuts-repeat-queries-by-25-boosting-profits-by-40m">Klarna</a>. The biggest portion of the debt –$116,000 – comes from online personal loans through <a href="https://www.benzinga.com/money/prosper-review">platforms like Prosper</a>. On top of that, they have a $40,000 car loan and $5,500 in credit card balances.
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">You can still get 4,000 of its pre-IPO shares for with $1,000 for just $0.25/share</a>
This complicated mix of debt sources shows how far the situation has spiraled out of control. The buildup of loans, payment plans and credit lines has resulted in an impossible financial mess. The car loan by itself is already a big problem and with all the high-interest loans and credit card debt added on top, it&#8217;s really hard for them to make any progress without making big changes.
<h2 class="wp-block-heading">The Wake-Up Call</h2>
Like always, Ramsey didn&#8217;t sugarcoat his advice. &#8220;You&#8217;re not going to be free or heal by yourself,&#8221; he told her. The key, according to Ramsey, is teamwork. &#8220;We need two things relationally: one is you go to him and say, &#8216;Honey, we&#8217;re in a mess – again – because I didn&#8217;t say no and you weren&#8217;t involved.'&#8221;
The caller admitted that her spending habits were deeply connected to her need for validation, saying, &#8220;It comes from my childhood,&#8221; but that didn&#8217;t sway Ramsey, who responded with his signature tough love: &#8220;You&#8217;re too dead gum old and rich income-wise to act like a 14-year-old girl that needs affirmation. It&#8217;s time to be a grown woman.&#8221;
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
<h2 class="wp-block-heading">A Plan to Move Forward</h2>
To get out of this financial hole, Ramsey laid out a clear but intense plan: They need to budget every month together, sell everything that isn't necessary and dramatically cut their lifestyle. &#8220;Sell everything, everything not tied down,&#8221; he said. The goal is to adopt what Ramsey called &#8220;scorched earth&#8221; living for 18 months – essentially, to live as frugally as possible and funnel every available dollar toward paying off the debt.
One of the biggest takeaways was the importance of not trying to impress others. According to Ramsey, affluent people frequently get to the point where they &#8220;don't give a crap what anybody thinks.&#8221; And for this caller, ending the debt cycle requires learning to disregard the opinions of others. &#8220;You've got to practice not having nice stuff and have people see you,&#8221; added co-host Dr. John Delony, encouraging her to confront her fears about appearances.
Image via Shutterstock
Read Next:
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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Personal Finance

PYPL

A Dave Ramsey Caller Opened Up 18 Credit Cards After Bankruptcy And Is $118,000 In Debt 'To Impress People.' Her Husband Has No Idea

Investors have been hit with an increased amount of short reports from some of the most well-known names in the space, which could be due to high valuations for stocks or could be coming after the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 presidential election results</a>.
What Happened: Over the past three months, big names in the short report space have taken on small and large companies claiming high valuations, accounting irregularities and other reasons that the stocks should trade lower.
Muddy Waters recently <a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">issued a short report</a> on e.l.f. Beauty, which was the first report from the short seller in months.
Kerrisdale Capital recently <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42092578/oklo-stock-slides-as-short-seller-sets-sights-on-altman-backed-nuclear-startup">issued a short report</a> on Oklo, its first published report since June.
Hindenburg, who has been issuing short reports on a monthly basis was the talk of the investing world when they took on technology company Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), <a href="https://www.benzinga.com/trading-ideas/short-ideas/24/08/40579899/super-micro-computer-stock-falls-on-short-report-hindenburg-says-company-has-accounting">accusing the company</a> of accounting, governance and compliance problems.
While the call was not popular at the time, given the company's soaring valuation, the stock is now down 28% over the last month after some of the alleged claims from Hindenburg were amplified<a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on"> with the resignation</a> of the company's independent auditor.
Citron Research published an update on their Geo Group bullish case in September, the last post made on the company's website. However, the firm led by Andrew Left has been active on social media, with a post this week announcing the firm <a href="https://www.benzinga.com/24/11/42118133/short-seller-andrew-left-targets-microstrategy-stock-as-hedge-against-bullish-bitcoin-bet-completely-detached-from-btc-fundamentals">had shorted shares </a>of the high-flying software company and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holder MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>).
The announcement of the short report by Left comes as the investor recently <a href="https://www.benzinga.com/news/24/07/40027424/gamestop-short-seller-and-citron-founder-andrew-left-pleads-not-guilty-to-fraud-charges">pleaded not guilty</a> to fraud charges in July.
Along with the recent growth of short reports from the firms who hadn't published in awhile, there are also regular short reports coming monthly from Grizzly Research and bi-weekly reports from The Bear Cave.
Read Also: <a href="https://www.benzinga.com/news/24/11/41784498/dead-company-walking-short-seller-sets-sights-on-viasat-expects-elon-musks-starlink-to-take-share-af">&#8216;Dead Company Walking&#8217;: Short Seller Sets Sights On ViaSat, Expects Elon Musk&#8217;s Starlink To Take Share After Trump Win</a>
Why It's Important: While short reports have been a regular fixture for investors for years, both from investors who are betting against the stocks themselves with their own short positions, newer reports from the likes of The Bear Cave by Edwin Dorsey come from an investor who claims to never take stakes in the companies he writes about.
Whether short reports are being done to make profit betting against the stock or to provide public information for investors to make their own decisions on investments, the big question is why the increase in reports over the last several months.
There's likely two big reasons why.
The first big reason for the increase could be because of the narrative that short sellers and short reports will be targeted by the new White House administration.
Muddy Waters' CEO Carson Block said Elon Musk and Donald Trump have both publicly criticized short sellers in the past.
"We've already had some rhetoric, we might have some more anti-short seller rhetoric," Block told <a href="https://www.bloomberg.com/news/articles/2024-11-21/carson-block-expects-more-anti-short-seller-rhetoric-under-trump?sref=TBDibEcD">Bloomberg</a>.
Block said Republican-led administrations are often lighter on enforcement, but he's not sure if Trump will roll back regulations.
"It is a question as to who is going to head the SEC," Block added.
The comment comes as SEC Chairman Gary Gensler recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">announced he will</a> step down on Trump's inauguration day, ahead of the assumption that Trump was going to replace him with a new leader.
Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), which was co-founded by Trump,<a href="https://www.benzinga.com/markets/equities/24/04/38337541/trump-media-technology-group-alleges-naked-short-selling-seeks-nasdaqs-intervention"> has targeted </a>short sellers and alleged that naked short selling is the reason the stock has fallen in price several times.
Musk, who has often publicly criticized short sellers, recently<a href="https://www.benzinga.com/news/24/07/39759646/as-tesla-ceo-elon-musk-wants-to-obliterate-short-sellers-expert-says-they-are-important-more-than-ev"> said he wanted</a> to "obliterate" short sellers.
The other reason for the increased short report volume could be due to stock market indexes trading near all-time highs and strong year-to-date gains.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, is up 26.0% year-to-date. This return is currently the fourth best in the last 10 years and the ETF could still pass the returns of 26.2% (2023), 28.8% (2021) and 31.2% (2019) to move up the list. &nbsp;
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Image: Shutterstock

SMCI

Short Sellers Are Back – Flurry Of Big Calls From Muddy Waters, Citron And Others Raises Questions: Why Now?

Recent elections across the U.S. delivered mixed results for housing initiatives, with voters showing strong support for funding affordable housing while remaining skeptical of rent control measures, according to an analysis by Redfin Chief Economist Daryl Fairweather.
Rhode Island became a standout success story, with voters overwhelmingly approving a record-breaking $120 million housing bond. The measure, nearly doubling the state&#8217;s previous housing investment from three years ago, signals growing public recognition of the housing crisis.
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<li>Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
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Several major cities also secured funding for affordable housing initiatives. Los Angeles voters approved a new half-cent sales tax for housing development, while Charlotte, North Carolina, passed a $100 million housing bond package. Baltimore followed with a $20 million bond measure for affordable housing projects.
San Francisco&#8217;s Proposition G secured $8.25 million annually for low-income rental subsidies, though Fairweather noted it might serve as a temporary fix rather than a long-term solution. &#8220;This helps low-income renters in the short term, but without adding more housing, it&#8217;s just a Band-Aid on the problem,&#8221; she said on X, formerly Twitter.
However, not all housing measures succeeded. Denver voters narrowly rejected Ballot Issue 2R, which would have generated $100 million annually through a sales tax increase for new housing development. California saw the defeat of two significant proposals: Proposition 33, which would have loosened rent control restrictions and Proposition 5, which aimed to lower the supermajority threshold for housing bonds.
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The rejection of rent control measures extended beyond California. Hoboken, New Jersey voters struck down a proposal to raise rent caps on vacant units. Fairweather views the outcomes as potentially positive for housing supply, stating, &#8220;strict rent control keeps existing tenants happy but limits new investment and leads to fewer rentals in the long run.&#8221;
Local initiatives employed various approaches to raise housing funds. According to the Institute on Taxation and Economic Policy, communities used diverse funding mechanisms, including sales taxes in Lawrence, Kansas, real estate transfer taxes in Berkeley and Mountain View, California and lodging taxes in several Colorado municipalities.
Berkeley bucked the trend against rent control by approving Measure BB&#8217;s 5% rent cap. However, Fairweather and <a href="https://www.benzinga.com/personal-finance/24/08/40101676/nearly-50-economists-were-asked-how-they-feel-about-president-bidens-5-rent-cap-this-is-what-the">other economists suggest rent control measures could discourage future development</a>. "The best way to stabilize rents is to build more homes," Fairweather said.
Trending: Invest in $20+ trillion home equity market today across cities like Austin, Miami, and Los Angeles through a <a href="https://www.benzinga.com/money/nada-cityfunds">unique 5-year term fund targeting a 14-20% IRR with minimums as low as $2,500</a>
The election results demonstrated that voters recognize the need for housing investment while remaining divided on policy approaches. While many communities showed willingness to fund affordable housing initiatives, rejecting certain measures highlights ongoing debate about the most effective solutions to address housing affordability.
Fairweather emphasized that while the Federal government <a href="https://www.benzinga.com/real-estate/24/11/41968915/will-trumps-second-term-unlock-housing-lower-rates-more-development-on-the-table-experts-say">can aid in the housing crisis</a>, &#8220;local initiatives have a profound impact on the housing market, even if they don&#8217;t make national headlines.&#8221; The mix of successful and failed measures indicates that while voters broadly support addressing housing affordability, they remain selective about specific policy solutions and funding mechanisms.
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Real Estate

2024 Election Housing Measures: What Passed, What Failed And What It Means For Supply, According To Redfin Chief Economist

Exela Technologies, Inc. (XELA) Q1 2024 Earnings Call Transcript

Exela Technologies announces $35M breach remediation notification contract

Exela unveils plans to spin off business process automation subsidiary

Exela Technologies (XELA) just unveiled an announcement. The Company has announced plans to potentially spin off its business process automation se...

Exela Technologies Considers Business Segment Spin-Off

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Exela Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/xela-stock-quote/">XELA</a>) stock is on the move Monday after the digital business process services company announced <a href="https://finance.yahoo.com/news/exela-announces-plans-spinoff-bpa-123000146.html">plans for a spinoff</a> of its business process automation (BPA) business.



Exela Technologies&rsquo; board of directors has authorized the spinoff of its BPA business to shareholders of XELA stock. This has it planning to distribute shares of this new company to XELA investors on record as of sometime in Q3 or Q4.



Investors won&rsquo;t have to take any action to get the shares in the Exela Technologies BPA spinoff. The company will also provide further details, such as the leaders of the new company, to these investors at a later date.



Exela Technologies is also looking into this being a potentially tax-free spinoff. This may require investors to speak with their tax professionals about the share distribution. The company has Loeb &amp; Loeb LLP acting as its legal counsel for the matter.



<h2>XELA Stock Movement on Monday</h2>



News of the Exela Technologies&rsquo; spinoff has the company&rsquo;s shares down 5.8% on Monday. This comes with some 100,000 shares of the stock changing hands. That&rsquo;s still well below its daily average trading volume of about 257,000 shares. Investors will also note that XELA stock is down 28.6% since the start of the year.



There are plenty of other stock market stories for traders to read about today!



Fortunately, we have all of that news ready to go on Monday! A few examples include what&rsquo;s happening with shares of Complete Solaria&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/cslr-stock-quote/">CSLR</a>), Spirit AeroSystems&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/spr-stock-quote/">SPR</a>) and Nio&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock today. All of that news is available at the links below!



<h2>More Stock Market News for Monday</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-complete-solaria-cslr-stock-up-41-today/">Why Is Complete Solaria (CSLR) Stock Up 41% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/spr-stock-spirit-aerosystems-pops-on-boeings-4-7-billion-deal/">SPR Stock: Spirit AeroSystems Pops on Boeing&rsquo;s $4.7 Billion Deal</a></li>



<li><a href="https://investorplace.com/2024/07/nio-stock-alert-nio-deliveries-almost-double-in-june-2024/">NIO Stock Alert: Nio Deliveries Almost Double in June 2024</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/07/xela-stock-alert-exela-announces-spinoff-of-bpa-company/">XELA Stock Alert: Exela Announces Spinoff of BPA Company</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

XELA Stock Alert: Exela Announces Spinoff of BPA Company

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Stocks are down today and investors wondering why have come to the right place as we know what&rsquo;s sending shares lower on Monday!



Stocks are down today as investors have a <a href="https://finance.yahoo.com/news/stock-market-today-stocks-waver-as-new-quarter-kicks-off-133037174.html">couple of things</a> on their minds leading up to the July 4 holiday. That includes the release of the latest U.S. Jobs reports. This report shows the state of the economy and gives insight into inflation data.



While investors have been hopeful that the market will cool down, the Federal Reserve hasn&rsquo;t signaled it will change its current stance just yet. That means we could be stuck with high interest rates longer than expected.



It&rsquo;s also worth noting there isn&rsquo;t <a href="https://finance.yahoo.com/news/june-jobs-report-ushers-in-new-quarter-during-holiday-shortened-trading-week-what-to-know-this-week-123222324.html">much in the way of earnings reports</a> coming out this week. That could also be keeping stocks down today as investors don&rsquo;t have much to look forward to during the short trading week.



Let&rsquo;s check out how this news is affecting <a href="https://finance.yahoo.com/world-indices/">the major stock indices</a> below!



<h2>Stocks Down Today: Major Indices Slip</h2>



<ul><li>The S&amp;P 500 starts us off today with a .09% drop on Monday morning.</li>



<li>Next is the Dow Jones Industrial Average with a .04% slide on Monday.</li>



<li>The NASDAQ Composite isn&rsquo;t feeling the heat today with a .13% increase as of this writing.</li>
</ul>Investors will want to stick around for more of the most recent stock market news today!



We have all of the hottest market happenings worth reading about on Monday! That includes what&rsquo;s going on with shares of Cassava Sciences&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sava-stock-quote/">SAVA</a>) stock, Exela Technologies&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/xela-stock-quote/">XELA</a>) stock and Complete Solaria&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/cslr-stock-quote/">CSLR</a>) stock today. You can catch up on all of this news down below!



<h2>More Monday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/sava-stock-alert-former-cassava-science-advisor-charged-with-fraud/">SAVA Stock Alert: Former Cassava Science Advisor Charged With Fraud</a></li>



<li><a href="https://investorplace.com/2024/07/xela-stock-alert-exela-announces-spinoff-of-bpa-company/">XELA Stock Alert: Exela Announces Spinoff of BPA Company</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-complete-solaria-cslr-stock-up-41-today/">Why Is Complete Solaria (CSLR) Stock Up 41% Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/07/why-are-stocks-down-today-july-1st/">Why Are Stocks Down Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Are Stocks Down Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Almost all investors have mistakenly held onto a stock, hoping it&rsquo;ll bounce back, only to watch it plummet further. Regardless, they still often bounce back in the long run if you go after profitable companies. It doesn&rsquo;t matter what valuation you buy profitable and quality businesses, as they will reward you in the long run.



However, not all stocks have the same underlying business. Some stocks are perpetually diluting their shareholders and do not have any profits. Instead, these businesses are likely to keep bleeding cash until they file for bankruptcy. They&rsquo;ll look cheap on the surface, but you should steer as far as possible from these stocks. If not, you&rsquo;ll likely enter a cycle of reverse stock splits and dilution.



Here are seven stocks to sell to avoid that pitfall:



<h2>Virgin Galactic (SPCE)</h2>



<a href="https://investorplace.com/wp-content/uploads/2021/07/mw-spce.png"><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2021/07/mw-spce-300x200.png" alt="A photo of a futuristic-looking silver airplane."></a>Virgin Galactic (NYSE:<a href="https://investorplace.com/stock-quotes/spce-stock-quote/">SPCE</a>) operates commercial spacecraft designed to fly private astronauts and researchers to space. The company&rsquo;s inability to turn a profit and history of overpromising and underdelivering have me seriously concerned about its long-term viability.



Management touted increasing the flight frequency of their mothership, VMS Eve, to support three space missions per week. They project this could <a target="_blank" href="https://www.fool.com/investing/2024/06/01/virgin-galactics-plans-for-profit-arent-realistic/#:~:text=Turns%20out%2C%20Virgin%27s%20%22%24450%20million,Galactic%20must%20fly%20770%20passengers.">generate $450 million</a> in annualized revenue with their first two Delta spaceships. However, I struggle to see the market demand to fill 770 seats per year at $600,000 or more a ticket. Space tourism remains a very niche market with a limited pool of ultra-wealthy clientele.



Meanwhile, deep-pocketed competitors like Blue Origin and SpaceX are rapidly advancing their own space tourism capabilities. This rivalry threatens to siphon away Virgin Galactic&rsquo;s already small addressable market. The company also continues battling regulator scrutiny and technical delays that have decimated investor confidence. The stock is down 83% year-to-date.



Virgin Galactic feels like a company far too ahead of its time. It is burning cash on an exceedingly expensive business model with dubious consumer demand. I don&rsquo;t think it can reach profitability before the coffers run dry.



<h2>Beyond Meat (BYND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/bynd1600-1-1-300x169.png" alt="Editorial photo on Beyond Meat (BYND) theme. Illustrative photo for news about Beyond Meat - a producer of plant-based meat substitutes. BYND stock"><div>Source: photo_gonzo / Shutterstock.com</div></div>Beyond Meat (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/">BYND</a>) is a plant-based meat substitute company that has been struggling to find its footing in an increasingly competitive market. In my opinion, the company&rsquo;s <a target="_blank" href="https://finance.yahoo.com/news/beyond-meat-inc-bynd-q1-185029055.html">Q1 2024 earnings</a> paint a bleak picture for the future of Beyond Meat.



Despite reporting revenue of $75.6 million, which narrowly beat expectations, the company&rsquo;s gross margin of 4.9% is a far cry from the 6.7% it reported in Q1 2023. This decline in profitability is particularly concerning given the company&rsquo;s ongoing efforts to bring production in-house and consolidate its network. I&rsquo;m not sure how a company can turn profitable with margins like this.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-29.png"><img width="1200" height="850" src="https://investorplace.com/wp-content/uploads/2024/07/chart-29.png" alt="Stocks to sell before bankruptcy: BYND margins"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>Beyond Meat&rsquo;s operating expenses at $57.1 million includes a $7.5 million accrual for consumer class action settlements. While the company has managed to reduce its operating expenses by $6.8 million year-over-year, it&rsquo;s clear that Beyond Meat is still struggling to control costs.



As a result, Beyond Meat reported a staggering loss from operations of $53.5 million in Q1 2024, only a slight improvement from the $57.7 million loss it reported in the same period last year. This ongoing bleeding of cash is unsustainable.



<h2>iHeartMedia (IHRT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/ihrt-stock-1-300x169.jpg" alt="A close-up of the iHeart Radio (IHRT) logo out front of a brick office building."><div>Source: Michael Vi / Shutterstock.com</div></div>iHeartMedia (NASDAQ:<a href="https://investorplace.com/stock-quotes/ihrt-stock-quote/">IHRT</a>) is a media and entertainment company. If trends don&rsquo;t improve dramatically, it could be headed for bankruptcy.



iHeart missed revenue guidance, posting a concerning <a target="_blank" href="https://markets.ft.com/data/announce/detail?dockey=600-202405090730BIZWIRE_USPRX____20240509_BW773698-1">1.5% decline</a> to $799 million in Q1. Profitability remains elusive, with analysts projecting another year of losses.



None of this is instilling any confidence on Wall Street. Guggenheim <a target="_blank" href="https://www.investing.com/news/company-news/iheartmedia-stock-target-cut-maintains-buy-rating-on-first-quarter-earnings-93CH-3442236">slashed their price target by 40%</a>, and the stock has plummeted 74% over the past year to trade near all-time lows. The technicals scream oversold, too, but in this case, I think it&rsquo;s deserved pessimism rather than an attractive discount. iHeart&rsquo;s core radio broadcasting model is in secular decline as advertising dollars shift to streaming, so I&rsquo;m not very hopeful about a rebound here.



<h2>Exela Technologies (XELA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/xela1600-300x169.png" alt="Business robotic process automation and technology concept with gears system or workflow and consultant team working on computer in office in background, automated ERP management, CRM or financial. BPA, XELA stock"><div>Source: NicoElNino / Shutterstock.com</div></div>Exela Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/xela-stock-quote/">XELA</a>) provides business process automation solutions. In Q1 2024, Exela&rsquo;s revenue <a target="_blank" href="https://www.stocktitan.net/news/XELA/exela-technologies-holdings-inc-reports-first-quarter-2024-n0t49yyaryhj.html">declined by 5.4% YOY to $258.8 million</a>. The core Information and Transaction Processing Solutions segment was hit particularly hard, with revenue plunging 9% due to the loss of a substantial $27 million contract.



What&rsquo;s even more alarming is that Exela is struggling to turn a profit despite operating in the high-growth, high-margin business process automation space. The company reported a net loss of $25.6 million for the quarter. Liquidity also appears to be a major issue, with unrestricted cash dwindling to a mere $10 million after making an interest payment. Management even admitted they are scrambling to &ldquo;expand liquidity&rdquo; as rising taxes erode their dwindling net operating losses.



The fact that Exela is flailing in such a lucrative industry is a giant red flag. With the stock already down 51% over the past year, I believe this downward spiral is far from over.



<h2>ChargePoint (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/chpt1600-300x169.png" alt="Selective focus. Detail of ChargePoint commercial EV electric vehicle charging station on uncovered parking lot. CHPT stock"><div>Source: Michael Vi / Shutterstock.com</div></div>ChargePoint (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/">CHPT</a>) has an extensive EV charging network. Revenue <a target="_blank" href="https://www.tipranks.com/news/chpt-earnings-chargepoint-slips-on-disappointing-guidance">declined 17.7% YOY to a paltry $107 million</a>.



What&rsquo;s going on here? The company blamed deal delays on construction setbacks, but I suspect there are deeper issues at play. ChargePoint&rsquo;s inventory spiked 13% as they grapple with sluggish demand in a fiercely competitive market. Rivals are chomping at the bit, and even the company admits Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) opening its Supercharger network is a looming threat.



Cash burn remains alarming, and profitability is a distant dream. The CEO also jumped ship. Some argue ChargePoint expanded too quickly to dominate this space. I&rsquo;d agree with that since margins are not going to turn positive unless the company sacrifices its top line.



I&rsquo;m steering clear of this stock, especially as dilution is accelerating.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-32.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/07/chart-32.png" alt="CHPT dilution chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>With shares down almost 80% in the past year alone, I see no compelling reason to bottom-fish here.



<h2>Redfin Corporation (RDFN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/rdfn_1600-300x169.png" alt="Redfin sign posted in front of a house for sale; Redfin (RDFN) is a real estate brokerage whose business model is based on sellers paying Redfin a small fee"><div>Source: Sundry Photography / Shutterstock.com</div></div>Redfin Corporation (NASDAQ:<a href="https://investorplace.com/stock-quotes/rdfn-stock-quote/">RDFN</a>) is a real estate brokerage company that operates an online real estate marketplace. Despite their best efforts, I believe Redfin is facing an uphill battle that could push them towards financial ruin. In the first quarter of 2024, the company reported a substantial <a target="_blank" href="https://www.fool.com/earnings/call-transcripts/2024/05/08/redfin-rdfn-q1-2024-earnings-call-transcript/#:~:text=An%20adjusted%20EBITDA%20loss%20of,%2C%20gross%20profits%20grew%2022%25.">adjusted EBITDA loss of $28 million</a>. While this was slightly better than their guidance, it&rsquo;s still a concerning sign of their ongoing struggles.



What&rsquo;s more troubling is that this loss comes after Redfin has already implemented significant cost-cutting measures. They&rsquo;ve restructured their brokerage in an attempt to gain market share, but even with a slight uptick to 0.77% in Q1 2024, it&rsquo;s unclear if this will be enough to right the ship. The harsh reality is that rising mortgage rates are putting immense pressure on Redfin&rsquo;s business model.



In my view, their goal of achieving a full-year adjusted EBITDA profit seems increasingly out of reach. The housing market is on shaky ground, and Redfin&rsquo;s previous $23 million net loss in Q4 2023 doesn&rsquo;t inspire confidence. While the company is touting the growth potential of its rental marketplace and lending business, I fear these initiatives will be too little, too late.



<h2>Terran Orbital (LLAP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/shutterstock_1034855800-300x169.png" alt="A photo of a satellite over earth."><div>Source: AlexLMX / Shutterstock</div></div>Terran Orbital (NYSE:<a href="https://investorplace.com/stock-quotes/llap-stock-quote/">LLAP</a>) manufactures small satellites for commercial and government customers. The company has faced significant challenges recently, and I believe its stock is a strong sell candidate before its situation potentially deteriorates further.



In Q1, they finally held an earnings call after not doing so in Q4. Terran Orbital&rsquo;s revenue <a target="_blank" href="https://finance.yahoo.com/news/terran-orbital-missed-chance-sell-100600560.html">declined 3.4% YOY to just $27.2 million</a>, substantially missing analyst estimates by over $14 million. The company&rsquo;s net loss of 27 cents per share was also much worse than the consensus forecast.



Moreover, there has been slow progress on Terran&rsquo;s $2.4 billion Rivada Space Networks contract.



Rich Smith from The Motley Fool <a href="https://www.nasdaq.com/articles/has-terran-orbital-missed-its-chance-sell-out-lockheed-martin">called</a> it &ldquo;a tale of two stocks.&rdquo; He also pointed out that &ldquo;&hellip; Rivada is an alleged space company that no one seems to have heard of, and that according to data from S&amp;P Global Market Intelligence, may have annual revenues of less than $5 million&hellip; but is somehow promising to pay Terran Orbital $2.4 billion to build it 300 satellites.&rdquo;



Any delays or issues with this Rivada project could be devastating. This is the only thing keeping bulls optimistic right now.



Terran Orbital&rsquo;s cash burn remains elevated, and I question whether its modest workforce expansion and automation investments will be enough to significantly improve efficiency. With just under 50 satellites slated for delivery in 2024, production will need to ramp up dramatically to meet targets.



Furthermore, Lockheed recently abandoned its acquisition offer amid Terran&rsquo;s ongoing strategic review. Stockholders equity is also negative.



<div><a href="https://investorplace.com/wp-content/uploads/2024/07/chart-31.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/07/chart-31.png" alt="LLAP stockholders equity"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>I believe the risks far outweigh any potential rewards right now.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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Exela Technologies enters into strategic alliance with AIDEO Technologies

Exela Technologies GAAP EPS of -$4.40, revenue of $245.65M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Exela Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/xela-stock-quote/">XELA</a>) just reported results for the second quarter of 2024.<ul><li>Exela Technologies reported earnings per share of -$4.40.</li><li>The company reported revenue of $245.65 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/xela-stock-earnings-exela-technologies-for-q2-of-2024/">XELA Stock Earnings: Exela Technologies Reported Results for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

XELA Stock Earnings: Exela Technologies Reported Results for Q2 2024

BYND

CHPT

CSLR

IHRT

LLAP

RDFN

SAVA

SPCE

XELA

XELAP

Press Releases

Exela Technologies, Inc. to Host First Quarter 2024 Financial Results Conference Call

Exela Technologies Reminds Stockholders to Cast Their Vote for Upcoming Annual Meeting of Stockholders to be held on June 13, 2024 at 10:00 a.m. Central Time

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